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Getting to Yes: The SBA and Alternative Loan Playbook

by Karlie Watts | Mar 18, 2019
By Scott Bossom, Senior Vice President and SBA Manager

The Small Business Administration (SBA) is widely known as a U.S. government agency that provides support to entrepreneurs and small businesses. However, it is also known as a difficult to work with bureaucracy that has a sizable amount of red tape to get through. For many startups and small businesses, this can create a dilemma - on one hand the SBA is built to handle their needs, on the other, the size and complexity of the organization may scare potential partners away.

While they have revamped many programs to help simplify the loan environment and reduce the paperwork down to just one SBA form to apply for a loan (in addition to the normal bank application), it can still be an overwhelming process for businesses to get through.

Columbia Bank endeavors to get to a “yes” as often as we can for our clients when it comes to loans and we have the expertise and relationships to help find the best path toward success.

As the most active SBA lender in Oregon and the fifth in Washington, Columbia Bank is uniquely positioned to help small businesses successfully navigate the SBA process in order to secure a loan that will get them off the ground. In fact, I previously worked at the SBA and know all the intricacies of the agency and – most importantly – how to streamline the entire loan process.

In addition, we are building relationships with alternative lenders so that businesses who may not qualify for an SBA loan, have another avenue to pursue a loan. Online lenders, microloans and other newer resources can offer more loan solutions to small businesses now than ever before. Often, if we can’t directly help a client, we might very well be able to find a partner who can.

If you’d like to find out more about the SBA loan programs or how we might be able to help you find alternative financing, contact our Community Financial Resources Department or send me an email.

 

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